Unemployment (August 20, 2021)
August 20, 2021 – Silicon Valley’s latest unemployment rate for July is back to 4.9% — where it was three months prior, according to analysis by Joint Venture Silicon Valley’s Institute for Regional Studies. Variations in the region’s employment numbers have been relatively small month to month over the past eight months, with the largest pandemic-period declines happening between the peak in April 2020 (12%) and last November (5.2%).
“The stagnation of our region’s employment picture is characteristic of the struggle to get back to normal” said Rachel Massaro, the Institute’s Director of Research. “It took less than a month to lose all of those jobs; it’s going to take a lot of effort and persistence to get them back.”